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Regime: Mixed, as lower European equity indices and higher Brent prices offset positive sentiment from Bitcoin and US tech futures; VIX at 18.02. Today’s market themes: BoC policy decision and press conference: Expect hawkish guidance from Macklem as inflation remains stubbornly high. Hormuz Strait disruption fears support Oil: Geopolitical risks weigh…
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Where we are: The Dollar Index is currently trading at 98.61, up +0.19% on the session. Overnight, the DXY has traded in a tight 98.41-98.63 range, consolidating gains after yesterday’s risk-off move. Current levels are holding above last week’s close but the market is in wait-and-see mode ahead of the Fed.…
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Where we are: S&P 500 futures are currently trading at 7169.25, down 4 points, or -0.06%, within a daily range of 7161.25 to 7188.25. The cash S&P 500 closed yesterday at 7138.80, putting the futures contract slightly below that level pre-open. The index faces resistance around the 7188 intraday high and…
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Where we are: Gold (COMEX) is currently trading at 4557.5, down 52.9 or -1.15% on the day. The intraday range has been 4557.4 to 4624.1, with the price currently near the low of the day. This marks a substantial move lower from yesterday’s close, driven primarily by rising real yields. What’s…
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Where we are: EUR/USD trades at 1.1697, down 0.15% on the day and near the bottom of its 1.1694-1.1721 intraday range. The Fiber continues to struggle below the 1.1700 handle, failing to capitalize on earlier European session attempts to rally. This comes after yesterday’s close near 1.1715, signaling a continuation of…
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Where we are: Nasdaq futures currently trade at 27236.75, up 0.11% on the day, holding within today’s 27193.50-27317.00 range. Cash NDX is at 24663.80, a touch firmer. We’re seeing some consolidation after yesterday’s choppiness and as participants prepare for the Fed’s decision today. The index is finding support around recent levels…
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Where we are: GBP/USD is currently trading at 1.3502, down -0.12% on the day, and struggling to hold onto gains. The pair has traded in a relatively tight range of 1.3495-1.3528 thus far, slightly below yesterday’s NY close, showing a mild bias to the downside. Overall, the mood is choppy; buyers…
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Where we are: USD/JPY is currently trading at 159.96, up 0.24% on the day and flirting once again with the psychologically significant 160 level. Overnight, the pair traded in a relatively tight range of 159.52-159.97. This level represents a continued test of intervention tolerance, holding above the previous NY close. What’s…
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Where we are: Dow futures currently trade at 49258, down 99 points or 0.20% on the day, having traded in a 49205-49417 range so far today. This is modestly below yesterday’s cash close of 49142. The index remains sensitive to shifts in risk sentiment given Big Tech earnings looming after the…
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Where we are: USD/CAD currently trades at 1.3677, virtually unchanged on the day after a tight 1.3673-1.3693 range. The pair remains slightly below yesterday’s NY close as markets await further catalysts. Technicals are mixed, but the overnight high offers initial resistance with support around the intraday low. What’s driving it: The…
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Where we are: Bitcoin currently trades at 77125, up 0.97% on the day, holding within today’s range of 76172-77884. BTCUSD is hugging the top of the range after the overnight bid, and has outperformed ETH, which is also up 1.04% at 2314. This is a modest recovery after recent volatility. What’s…
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Where we are: The FTSE 100 is currently trading at 22288, down 108 points or -0.48% on the day, testing intraday lows. The index is underperforming its European peers and sits well off the session high of 22448. The current level is significantly below yesterday’s NY close, reflecting broader risk aversion…
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Snapshot: AUD/USD trades at 0.7156 (-0.35%) after Australian CPI data printed mixed; headline y/y at 4.8% vs 3.7% previously, but m/m 1.3% inline. Attention now shifts to the 14:00 ET Federal Funds Rate decision and FOMC statement. Aussie CPI print at 11:30 AEST showed a m/m headline of 1.3% (forecast). A…
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Snapshot: WTI Crude is up $4.49 to $103.98, driven by escalating concerns over Middle East supply disruptions. The potential for further upside hinges on the outcome of the 14:00 ET FOMC decision and statement. A break above the day’s high of $104.31 would signal further bullish momentum. Increased volatility around the…
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Snapshot: The Nikkei 225 is currently trading at 59917, down 1.01% or 614 points, as markets digest the implications of the Bank of Japan’s latest monetary policy statement. While the BoJ held rates steady at 0.75%, growing internal debate over inflationary pressures has spooked investors. The Nikkei is testing the 59702…
